Nearly $8 Million in Grants Will Support Nine Real Estate Projects in Underinvested Neighborhoods

Community-led projects will bring much needed amenities, services and economic opportunities—including health services, youth programs, workforce training, fresh food, and more—to underinvested neighborhoods largely on Cook County’s South and West sides

CHICAGO, IL (March 12) – The Neighborhood Capital Fund, a pooled philanthropic fund that supports real estate developments in underinvested neighborhoods, which are predominantly on Cook County’s South and West sides, today announced a total of $7.86 million in grants to nine projects that will bring much needed amenities, services and economic development to these communities, strengthening the region for all.
 
Established in 2025, the Neighborhood Capital Fund will grant approximately $20 million between now and the end of 2027. The fund builds on the impact and lessons learned from We Rise Together: For an Equitable & Just Recovery, another pooled fund also led by The Chicago Community Trust (the Trust), which invested nearly $50 million in strengthening underinvested neighborhoods between 2021 and when it sunset in 2025, including grants to 40 real estate projects.

Lead donors to the Neighborhood Capital Fund include Schreiber Philanthropy, Robert R. McCormick Foundation, Target Foundation, The Joseph Pedott Legacy Fund, JPMorgan Chase, Development Now for Chicago, Knight Impact Partners, the Trust, and an anonymous donor.  

Throughout We Rise Together’s planned five-year run, the Trust evaluated the impact of We Rise Together’s capital grants. Through evaluation partner Mastercard Data Services, the Trust learned that communities with two or more completed We Rise Together projects have experienced four times the economic activity compared with similar communities in the region. 

“Development momentum has been building in a number of underinvested communities, driven by dedicated local organizations and entrepreneurs with strong community visions,” said Christen Wiggins, senior director of Community Development at The Chicago Community Trust. “Neighborhood Capital Fund’s support is intended to fuel this momentum by helping community-based project leaders complete financing and overcome development hurdles to layer in more much needed opportunities for residents and visitors for the kinds of things all communities want and need—quality healthcare and childcare, shopping and recreation.” 

Neighborhood Capital Fund was established to continue the economic momentum We Rise Together helped support by advancing community plans through sustained, coordinated investments that, over time, build on one another and lead to transformative change. 

For projects to be eligible for Neighborhood Capital Fund grants, they are required to demonstrate that they: 

• have at least 75% of their capital secured/committed
• are located within a half-mile radius of economic assets generating positive economic activity
• have site control
• are within Cook County in underinvested neighborhoods, which are predominantly on the South or West sides

The following projects have been awarded grants:

Blue Azul Center, $1 million, Auburn Gresham: Funding will support Think B.L.U.E. to develop a neighborhood center focused on mental, educational and physical health to address the interconnected challenges community members face in creating a healthy lifestyle. 

Chicago South Side Birth Center, $500,000, South Chicago: Funding will help finance the development of the first birth center on Chicago’s South Side, bringing community-focused midwifery care, a safe birthing space where birthing people can be supported from pregnancy through postpartum, as well as a reproductive health clinic.

The Firehouse, $290,000, Back of the Yards: Funding will allow Plant Chicago to complete renovations of a former firehouse being converted into a space for community programming, including STEM programs for youth, access to healthy food, and shared space for community members to farm indoors. 

IMAN Health Center, $1.5 million, Chicago Lawn: Funding will support the development of the IMAN Health Center, which is an expanded health care facility to increase critical care services for the Chicago Lawn community and beyond, led by the Inner-City Muslim Action Network (IMAN). 

Imani Village Empowerment Zone, $1.5 million, Pullman: Funding will support the development of a health care center at Imani Village Empowerment Zone at 95th Street and Cottage Grove Avenue, serving Pullman and surrounding communities with expanded health services, a renovated gymnasium, expanded food market and teaching kitchen, and spaces for organizations providing community services such as workforce training and youth programming.

KOCO Office and Silver Fox Café, $820,000, Grand Boulevard: Funding will support Kenwood Oakland Community Organization (KOCO)—which engages low-income and working families in shaping public decisions and policies that affect their communities—to develop office space, including a library, food pantry, community/event space, and a café run by local entrepreneurs.

MAAFA Center for Arts & Activism, $750,000, West Garfield Park: Funding will enable MAAFA to activate an outdoor pavilion adjacent to Phase 1 of their project renovating the former St. Barnabas Episcopal Church as its headquarters, providing indoor and outdoor spaces for workshops, community-led and artist-led programs and performances, wellness activities, and neighborhood events.

Urban Market Exchange, $700,000, Woodlawn: Funding will support the development of Urban Market Exchange, a maker and artist workspace and business center for artisans, creators and entrepreneurs. 

Yollocalli Fire Station, $800,000, Little Village: Funding will enable the National Museum of Mexican Art’s Yollocalli youth development program to close the financing gap on their new headquarters, which redeveloped a vacant firehouse to expand youth art offerings in Little Village.

Neighborhood Capital Fund expects to issue another open call for projects in fall 2026, with funding to be awarded in spring 2027.

About Neighborhood Capital Fund
Building on lessons learned through We Rise Together: For an Equitable & Just Recovery and other capital investment initiatives, a group of funders has developed the Neighborhood Capital Fund. The goal of this two-year fund is to support real estate development in underinvested communities, which are largely on the South and West sides of Cook County, bringing much needed amenities and services and helping communities achieve their visions for thriving economies. The fund will provide streamlined, late-stage capital grants for brick-and-mortar projects to help complete their capital financing and move to and through construction. Learn more.